MARC has withdrawn its AA+ rating on CIMB Bank Berhad’s (CIMB Bank) RM1.5 billion nominal value subordinated bonds (Subordinated Bonds). The withdrawal follows the early and full redemption of the Subordinated Bonds on March 28, 2013, as confirmed by the facility agent.

MARC’s analytical coverage on CIMB Bank is now limited to the bank’s financial institution rating of MARC-1/AAA and the following rated debt issuances:

• RM5.0 billion Subordinated Debt Programme at AA+/ AA+IS;
• RM4.0 billion Perpetual Non-Innovative Tier 1 Stapled Capital Securities at AA;
• RM1.0 billion Innovative Tier 1 Capital Securities at AA.

The outlook on these debt issuances and CIMB Bank’s financial institution rating is stable.

Contacts:
Se Tho Mun Yi, +603-2082 2263/ munyi@marc.com.my;
Sharidan Salleh, +603-2082 2254/ sharidan@marc.com.my.